FedEx shares fell approximately 6% despite reporting fourth-quarter revenue of $25.01 billion, which slightly exceeded analysts' expectations of $24.04 billion. In contrast, KB Home's stock rose by 2% after it reported fiscal second-quarter revenue of $1.11 billion, surpassing the anticipated $1.10 billion, although its earnings per share of 43 cents fell short of the expected 45 cents.
Cerebras Technologies saw its shares drop 8% following its first earnings report since going public, revealing a first-quarter loss of 22 cents per share on revenues of $193.4 million. However, the company projected a significant year-over-year revenue increase, forecasting full-year core revenue between $855 million and $865 million.
Nike's shares increased by 1% after announcing a leadership change, with CFO Matthew Friend stepping down and being replaced by David Denton from Pfizer. Nike also indicated that its upcoming fiscal results would benefit from unexpected tariff refunds.
Conversely, Worthington Industries' stock plummeted nearly 10% after reporting fiscal fourth-quarter results that missed expectations, with adjusted earnings of 97 cents per share on revenue of $371.5 million, falling short of the anticipated $1.06 per share and $386.5 million in revenue